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NAB Morning Call

Phil Dobbie
Federal Reserve
United States
Oil
Oil Prices
Iran
Reserve Bank Of Australia
China
Inflation
Australia
European Central Bank
RBA
Japan
Bank Of England
Artificial Intelligence
US Dollar
Bank Of Japan
NAB
Donald Trump
US Economy
NVIDIA

Start your day with the NAB Morning Call for the latest overnight key economic and market information straight from our team of expert market economists and strategists. This includes perspective on overnight news and market price action and the forces shaping movements in Australian and global markets in the days ahead.

Hosted on Acast. See acast.com/privacy for more information.

PublishesDailyEpisodes1620Founded10 years ago
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Latest Episodes

Wednesday 12th August 2026

NAB Markets Research Disclaimer 

Financial Services Guide | Information on our services - NAB

It was, as expected, a fairly hawkish RBA yesterday. As NAB’s Skye Masters explains, tweaks to forecasts were relatively minor... more

Tuesday 11th August 2026

NAB Markets Research Disclaimer 

Financial Services Guide | Information on our services - NAB

On a session that’s been light on for data the focus has been on the two major undercurrents of the year. First, the Gulf. Oil p... more

Monday 10th August 2026

NAB Markets Research Disclaimer 

Financial Services Guide | Information on our services - NAB

US payrolls data surprised most on Friday with a weaker than expected number of jobs, but also a fall in the unemployment rate. P... more

Friday 7th August 2026

Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.

Australia is aiming to reach Net Zero by 2050. Will we make it? There are heaps of ini... more

Key Facts

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Recent Guests

Toby Phillips
Economic Director at the Centre for Policy Development, leads the transition team
Centre for Policy Development
Episode: Weekend Edition: On track for Net Zero? Do we know?
Josh Stabler
Managing Director of Energy Edge, publishes The Edge Report
Energy Edge
Episode: Weekend Edition: Industry Reservations on Gas Reforms
John Reade
Senior market strategist for the World Gold Council
World Gold Council
Episode: Weekend Edition: Gold - safe haven or speculative investment?
Lachlan Vass
From E61, joining for weekend edition discussion on the Petroleum Resource Rent Tax
E61
Episode: US Moderate Exceptionalism
George Magnus
Independent economist and research associate at the China Center at Oxford University and the School of Oriental and African Studies in London
Oxford University (China Center); School of Oriental and African Studies
Episode: Weekend Edition: The ticking China timebomb
Geoff Wilson
Founder of Wilson Asset Management, veteran investor
Wilson Asset Management
Episode: Weekend Edition: Geoff Wilson on Taxing the future
Taylor Nugent
Analyst from NAB joining from Sydney
National Australia Bank (NAB)
Episode: Not so Zen about the Yen
Peter Berezin
Chief Strategist for Global Investment Strategy at BCA Research
BCA Research
Episode: Weekend Edition: AI - Revolution, bubble or doomsday?
Peter Berrezin
Chief Strategist for Global Investment Strategy at BCA Research
BCA Research
Episode: Peace de Résistance

Host

Phil Dobbie
Host of NAB Morning Call; NAB staff with a long-running presence in the show.

Reviews

4.8 out of 5 stars from 817 ratings
  • Fantastic

    Phil, I really enjoy the morning summaries and in particular your weekend deep dives.

    Apple Podcasts
    5
    @MB2030
    Australia6 months ago
  • Informative and insightful.

    Great way to start the day! Thank you Phil and NAB.

    Apple Podcasts
    5
    great assistant
    Australia6 months ago
  • A little request

    I know it’s hard but errs and ums really stand out on podcasts so please get speakers who don’t stammer at all.

    Apple Podcasts
    4
    Rooksta
    Australia8 months ago
  • Ok… but lacking balance

    I understand it’s a male dominated industry… but surely they could occasionally get a female voice on here. As a female listener it would be great to fee represented

    Apple Podcasts
    3
    Jacew65
    Australia9 months ago
  • Fantastic

    Best way to start the day!

    Apple Podcasts
    5
    glasgowuk2002
    Australiaa year ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

The show is praised for its fast-paced updates and useful context for global market moves.
Some listeners wish for more gender diversity among guests and hosts.
Listeners value the concise, data-driven market briefings each morning and the practical insights from NAB economists.
A few imperfections noted around speaking style or consistency in episode depth, but overall strong usefulness for daily market context.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#74
United Kingdom/News/Business News
Apple Podcasts
#167
Canada/News/Business News
Spotify
#34
Australia/News
Apple Podcasts
#2
Australia/News/Business News
Apple Podcasts
#47
Australia/News
Apple Podcasts
#65
Italy/News/Business News

Talking Points

Recent interactions between the hosts and their guests.

Weekend Edition: Gold - safe haven or speculative investment?
Q: John, what were the main drivers behind the record highs for gold earlier this year?
The combination of central-bank purchases since 2010, rising ETF demand, and renewed interest from emerging markets, along with retail buying, all contributed to the surge. As ETF investors and physical demand increased, gold benefited from a broad shift toward gold as a portfolio diversifier and a hedge against devaluation pressures.
Weekend Edition: The ticking China timebomb
Q: Why is the official 5% growth figure misleading, and what are the implications for consumption and debt?
Jonathan argues that underlying growth is likely closer to 3%, with debt burdens heavy on local governments and state entities, and consumption hampered by weak wage growth and real estate downturn, which challenges the sustainability of the growth narrative.
Weekend Edition: The ticking China timebomb
Q: What are the core sectors driving China's growth, and how do they relate to the broader economy?
The guest explains that a modern, export-oriented sector—featuring AI, EVs, batteries, and high-tech manufacturing—drives some growth, but the vast majority of the economy relies on domestic demand and traditional sectors that are weaker, leading to a two-track dynamic.
Risk off, but why?
Q: What's triggering this risk-off tone and is it sustainable?
Taylor Nugent explains that the risk-off tone is broad, driven by AI and chip-sector weakness, with a sharper move in tech names and a corresponding upgrade in the US dollar and yields, but the broader macro backdrop remains mixed, so while some sectors are weak, other indicators like PMIs show pockets of resilience; sustainability will depend on how AI investment narratives evolve and how geopolitical headlines unfold.
Oil slides through the Strait, but underlying Aussie CPI is sticky
Q: And your take on yesterday's Australian CPI number then now, in May, prices rose 4% a year on year which was actually below the general consensus, what was expected, also what NAB was expecting as well.
The headline CPI came in softer than expected, continuing a disinflationary trend driven by lower fuel prices, but the details show that core pressures and pass-through costs remain evident, suggesting the RBA may still be cautious about second-half inflation and policy moves.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
Gender Skew
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Frequently Asked Questions About NAB Morning Call

What is NAB Morning Call about and what kind of topics does it cover?

A concise, day-starting market briefing featuring NAB's team of economists and strategists. Episodes blend global macro updates with currency, rate, and oil moves, plus geopolitical catalysts from the Middle East to China. Guests provide color on markets, infrastructure, and aviation, with a focus on implications for Australian investors and policy paths. The show stands out for short, data-driven insights, live market interpretation, and a steady cadence that helps listeners form a view on near-term risk and opportunities.

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Which podcasts are similar to NAB Morning Call?

These podcasts share a similar audience with NAB Morning Call:

1. CommSec Market Update
2. 5 in 5 with ANZ
3. Chanticleer
4. The Fin
5. The Rules of Investing

How many episodes of NAB Morning Call are there?

NAB Morning Call launched 10 years ago and published 1620 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on NAB Morning Call?

Recent guests on NAB Morning Call include:

1. Toby Phillips
2. Josh Stabler
3. John Reade
4. Lachlan Vass
5. George Magnus
6. Geoff Wilson
7. Taylor Nugent
8. Peter Berezin

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